The Taurus debt is senior secured with New Hope's facility second ranking (see 21 April 2022 announcement). Per the quarterly the Taurus debt stands at A$77M; if Bowen default on the debt then Taurus are first in line to recoup their losses by monetising the mine/infrastructure which Bowen say is >$500M. Don't think they'll be too worried, they will easily make their money back - and then some. The old 'loan-to-own' strategy.
Absolutely brutal for shareholders though, the management silence is appalling and their handling of the 249d was downright disrespectful.
General Discussion, page-41
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